The status of thermophysical property needs of the chemical industry is reviewed and updated relative to similar observations from 20 years ago. The paper is informed by a series of symposia held over several years in conjunction with the American Institute of Chemical Engineers (AIChE) national meetings. Experiences of the authors are also incorporated, including a discussion of the state of the art in this area, as well as references to several of the articles included in a recent special issue of Ind. Eng. Chem. Res. (2022, volume 61, issue 42) devoted to the subject. In general, the trend is toward more rigorous molecular methods but ingrained empirical methods tend to hold on for extended times by adding increasingly sophisticated multiparameter correlations. There is also a tendency for research in newer methods to end prematurely with anecdotal proofs of principle, undermining their ability to supersede tried and true methods. Significant gaps exist in experimental data, for the development of estimation methods and validation of models besides a general need for technical knowledge development. Although progress is clear, some of the goals articulated 20 years ago remain to be achieved, even as new needs are identified in estimation. modeling, and measurements. One possible solution, to close experimental data gaps and to provide a continuous stream of trained personnel, is to establish multidisciplinary research centers of excellence in this important methodology.